1Q 2018 Business Overview

9% 1Q 2018 Equities Market Trading volumes¹ RUB trn Equities ―MOEX Index (average for the period) XX% Velocity2 25% 28% 27%) 26%) 27%) 2,126 1,938 1,981 2,112 2,275 +16.5% Increasing popularity of Individual Investment Accounts Individual Investment Accounts, thousands, end-of-period +56.2% 328 302 269 231 2.6 210 2.2 2.3 2.3 2.3 1Q 2017 2Q 2017 3Q 2017 4Q 2017 1Q 2018 Fee & commission income RUB mln +18.4% 470 397 385 409 420 1Q 2017 2Q 2017 3Q 2017 4Q 2017 1Q 2018 1Q 2017 2Q 2017 3Q 2017 4Q 2017 1Q 2018 Comments . " Trading volumes increased 16.5% YoY, F&C rose by 18.4% YoY. MOEX's market share vs. LSE in trading of dual-listed Russian shares rose by 4 pp YoY and reached 61%. FTSE replaced 2 DRs of Russian issuers with local shares in its All-World index. X5 Retail Group's DRs started trading on the Equities Market in February 2018 and entered the top-20 most liquid equity instruments in May 2018. ☑ MOSCOW Source: Moscow Exchange operational information and Consolidated Financial Statements, WFE, Liquid Metrix, Bloomberg and Moscow Exchange data for March 2018 for MOEX vs LSE share EXCHANGE 1 Volumes of both primary and secondary markets 2 Velocity is calculated as annualized trading volumes for the period divided by the average market capitalization 46

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